TD Asset Management Inc Acquires 293,575 Shares of Bank Of Montreal $BMO

TD Asset Management Inc lifted its holdings in Bank Of Montreal (NYSE:BMO) (TSE:BMO) by 1.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,372,601 shares of the bank’s stock after acquiring an additional 293,575 shares during the period. Bank Of Montreal makes up approximately 2.0% of TD Asset Management Inc’s investment portfolio, making the stock its 6th largest position. TD Asset Management Inc’s holdings in Bank Of Montreal were worth $2,519,180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Code Waechter LLC grew its stake in shares of Bank Of Montreal by 1.7% in the fourth quarter. Code Waechter LLC now owns 4,486 shares of the bank’s stock valued at $582,000 after acquiring an additional 75 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Bank Of Montreal by 33.2% in the fourth quarter. Larson Financial Group LLC now owns 317 shares of the bank’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Naples Global Advisors LLC grew its stake in shares of Bank Of Montreal by 0.5% in the fourth quarter. Naples Global Advisors LLC now owns 17,780 shares of the bank’s stock valued at $2,308,000 after acquiring an additional 80 shares in the last quarter. Allworth Financial LP grew its stake in shares of Bank Of Montreal by 4.6% in the third quarter. Allworth Financial LP now owns 2,121 shares of the bank’s stock valued at $276,000 after acquiring an additional 94 shares in the last quarter. Finally, Choreo LLC grew its stake in shares of Bank Of Montreal by 3.6% in the third quarter. Choreo LLC now owns 2,735 shares of the bank’s stock valued at $356,000 after acquiring an additional 95 shares in the last quarter. 45.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BMO shares. Raymond James Financial restated an “outperform” rating on shares of Bank Of Montreal in a research note on Tuesday, May 12th. National Bank Financial reaffirmed a “sector perform” rating on shares of Bank Of Montreal in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Bank Of Montreal from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. Desjardins reaffirmed a “hold” rating on shares of Bank Of Montreal in a research report on Thursday, May 28th. Finally, Barclays reissued an “underweight” rating on shares of Bank Of Montreal in a report on Thursday, May 28th. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $163.00.

Bank Of Montreal Stock Down 1.8%

BMO stock opened at $162.40 on Thursday. The firm has a 50-day moving average price of $149.73 and a 200-day moving average price of $140.07. The stock has a market capitalization of $113.75 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 0.93 and a beta of 0.95. Bank Of Montreal has a 12 month low of $104.08 and a 12 month high of $165.92. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.11.

Bank Of Montreal (NYSE:BMO) (TSE:BMO) last issued its quarterly earnings data on Wednesday, May 27th. The bank reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.14. The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.98 billion. Bank Of Montreal had a net margin of 12.60% and a return on equity of 13.04%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $2.62 EPS. As a group, equities research analysts anticipate that Bank Of Montreal will post 11.82 EPS for the current fiscal year.

Bank Of Montreal Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Thursday, July 30th will be issued a $1.71 dividend. This is a boost from Bank Of Montreal’s previous quarterly dividend of $1.67. The ex-dividend date is Thursday, July 30th. This represents a $6.84 dividend on an annualized basis and a yield of 4.2%. Bank Of Montreal’s dividend payout ratio (DPR) is 50.96%.

About Bank Of Montreal

Bank of Montreal (NYSE:BMO), commonly known as BMO Financial Group, is one of Canada’s largest and longest-established banks. Founded in Montreal and headquartered in Montreal, Quebec, the bank provides a broad range of financial services to retail, commercial, corporate and institutional clients. BMO is publicly listed in both Canada and the United States and operates under a consolidated financial services model that integrates banking, capital markets, wealth management and asset management activities.

BMO’s core businesses include personal and commercial banking—offering checking and savings accounts, lending, mortgages, and small-business services—alongside wealth management and private banking through its asset and investment management divisions.